KUALA LUMPUR, Oct 24 — With approved investments of RM7.7 billion in the manufacturing sector for the first half of 2017, Penang topped the list of states in the country.

This, says Minister in the Prime Minister’s Department, Datuk Seri Abdul Rahman Dahlan, is proof that the Federal government does not discriminate against states under the federal opposition in terms of attracting and promoting investments in the country.

This is further evidenced by the infrastructure networks developed and built by the Federal government like the Mass Rapid Transit, Light Rapid Transit and highways spanning cities in Selangor.

The Digital Free Trade Zone (DFTZ) e-Fulfilment Hub will be located in Selangor at the KLIA Aeropolis and the Penang Second Bridge connecting the mainland and island will ease congestion on the First Penang Bridge, he added.

He said in a statement that credit should also be given to the Malaysian Investment Development Authority (MIDA) under the Ministry of International Trade and Industry (MITI), which had been promoting Malaysia globally to attract direct investments.

MIDA assists and facilitates investors by co-operating with relevant agencies at both the Federal and state levels to secure infrastructural facilities, expedite regulatory approvals, extend support on re-investments and expansions, while acting as a one-stop centre for investors.

The Pioneer Status (PS) and Investment Tax Allowance (ITA) incentives provided by the Federal government for the manufacturing and services investors are also extended to investors wanting to invest in states ruled by the federal opposition.

“In spite of false allegations made by the opposition that Malaysia is no longer a preferred investment destination, foreign investors fleeing the country and being a failed nation, the data keeps showing otherwise,” said Rahman Dahlan.

Net foreign direct investments (FDI) flow into Malaysia has risen from RM23.9 billion (2008) to RM47.2 billion (2016). Since 2014 it has been steadily increasing despite external uncertainties such as plunging commodities prices and volatility on global financial markets.

Year Net FDI Flow into Malaysia in 2014, 2015 and 2016 was RM35.6 billion, RM39.4 billion and RM47.2 billion respectively.

Abdul Rahman said Malaysians must realise and judge for themselves, which side had been busy managing the economy and who had been busy politicking. — Bernama